Castings (LON:CGS) Stock Passes Above Fifty Day Moving Average of $376.73

Castings P.L.C. (LON:CGS)’s share price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 376.73 ($4.79) and traded as high as GBX 390 ($4.96). Castings shares last traded at GBX 386 ($4.90), with a volume of 4,976 shares trading hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their price objective on Castings from GBX 550 ($6.99) to GBX 450 ($5.72) and set a “buy” rating on the stock in a report on Wednesday, June 12th.

Castings Stock Performance

The stock’s fifty day moving average price is GBX 376.73 and its 200-day moving average price is GBX 360.77. The firm has a market cap of £167.76 million, a PE ratio of 1,102.86 and a beta of 0.55.

Castings Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Thursday, June 20th will be given a dividend of GBX 14.19 ($0.18) per share. This is a positive change from Castings’s previous dividend of $4.13. This represents a yield of 3.84%. The ex-dividend date of this dividend is Thursday, June 20th. Castings’s dividend payout ratio is presently 5,142.86%.

Castings Company Profile

Castings P.L.C. engages in the iron casting and machining activities. It operates through Foundry Operations and Machining Operations segments. The company offers ductile iron, spheroidal graphite iron, austempered ductile iron, SiMo, and Ni-resist castings. It also provides fertilising solution annealing, pearlitic quench and temper, temper softening, and austempering heat treatment services; automotive standard e-coat and powder coating, galvanising, plating, gas based surface treatment, and plastic and metal spray coating services; and assembly and insulation services.